Mr. Adams and Ms. Smith are betting on repeatedflips of a coin. At the start of the game Mr. Adams hasa dollars and Ms. Smith has b dollars, at each flip the loser pays the winner one dollar, and the game contin-ues until either player is “ruined.” Making use of the fact that in an equitable game each player’s mathematicalexpectation is zero, find the probability that Mr. Adamswill win Ms. Smith’s b dollars before he loses his adollars.

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Mr. Adams and Ms. Smith are betting on repeated
flips of a coin. At the start of the game Mr. Adams has
a dollars and Ms. Smith has b dollars, at each flip the
loser pays the winner one dollar, and the game contin-
ues until either player is “ruined.” Making use of the
fact that in an equitable game each player’s mathematical
expectation is zero, find the probability that Mr. Adams
will win Ms. Smith’s b dollars before he loses his a
dollars.
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